BP may sell stake in Russian crude venture TNK-BP

BP said Friday that it had received unsolicited indications of interest regarding the potential acquisition of its 50% stake in Russian crude oil venture TNK-BP.

In light of those approaches, BP has notified Alfa Access Renova of its intention to pursue a potential sale, it said.

There is no guarantee that a transaction will take place, the company said.

TNK-BP is a leading Russian oil company, owned equally by BP and Alfa Access Renova. The company was formed in 2003 as the result of the merger of BPs Russian oil and gas assets and the assets of Alfa Access Renova.

TNK-BP is vertically integrated with a diversified upstream and downstream portfolio in Russia and Ukraine and international interests in Brazil, Venezuela and Vietnam.